Construction Industry News

Saudi King issues royal decree approving US$ 19.2 bn private sector stimulation plan

Saudi King issues royal decree approving US$ 19.2 bn private sector stimulation plan

15th December 2017

According to *Tradearabia news report, Saudi Arabia's King Salman bin Abdulaziz Al Saud has issued a royal decree approving the private sector stimulation plan and allocating a total of SR72 billion ($19.2 billion) for the plan.  The private sector stimulation plan is based on what has advanced by Prince Mohammad bin Salman bin Abdulaziz, the Crown Prince and Vice President of the Council of the Ministers and President of the Economic and Development Council, said a Saudi Press Agency report.[..]

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Galfar secures US$ 15 mn Salalah LPG project subcontract

Galfar secures US$ 15 mn Salalah LPG project subcontract

14th December 2017

According to *Tradearabia news report, Galfar Engineering and Contracting Company said it has secured a subcontract worth $15 million for an engineering, procurement and construction package from UK oil services firm Petrofac at Salalah in Oman.[..]

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Cluttons: Abu Dhabi’s real estate market continues to stagnate during 2017

Cluttons: Abu Dhabi’s real estate market continues to stagnate during 2017

14th December 2017

According to *Tradearabia news report, prolonged economic headwinds have meant that Abu Dhabi’s real estate market has continued to stagnate during 2017, with the majority of sale and lease activity driven by affordability and incentives being offered by landlords and developers, according to leading international real estate consultants Cluttons.[..]

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